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• • <br />• <br />-2- <br />its election, may cancel this Agreement upon ninety (90) days written <br />notice to BMUD; and, in any event, this Agreement shall not extend <br />beyond a term ending September 30, 1999. <br />CONSIDERATION <br />(A) BMUD shall pay to CITY a capital recovery fee of $ , <br />which shall be payable in cash on or before September 30, 1985. <br />,~ (B) BMUD shall pay to CITY, for water consumption, based upon <br />master meter readings at the point or points of delivery to BMUD, <br />• shall be CITY'S lowest water rate (exclusive of any sanitary sewer <br />rate charge),- as such water rate may be established from time to <br />time by duly enacted ordinance of CITY'S City Council, multiplied by <br />one hundred twenty-five percent (125$). CITY'S lowest water rate <br />upon the date of execution hereof is $1.60 per thousand gallons. <br />BMUD'S water pumpage, as reflected by such master meter or meters, <br />shall be invoiced by CITY to BMUD monthly, and shall be due and <br />payable by BMUD to CITY in cash within thirty (30) days from the <br />date of invoice. <br />(C) Payments received by CITY after such thirty (30) day period <br />shall be subject to a penalty of f ive percent ( 5$) , and shall also <br />draw interest at the rate of~fifteen percent (15$) per annum until <br />paid. CITY may terminate service under this Agreement in the event <br />• of non-payment by BMUD for a period of ninety (90) days. <br />QUANTITIES <br />Although BMUD shall not be obligated to take any amount of <br />• water under the terms of this Agreement, BMUD agrees that CITY shall <br />be the sole source of water supply for Bayou Forest Subdivision. <br />BMUD shall not supply water to Bayou Forest Subdivision, nor shall <br />BMUD allow any other source of supply to said subdivision other than <br />CITY, except in cases where CITY must curtail supply due to force <br />majeure, as hereinafter provided. <br />~~ <br />